It’s not just you: Construction really is risky business

The sector was among those with the most legal filings last year, resulting in $3.36 billion in losses, according to a new report.

By Joe Bousquin • April 5, 2023

After ‘shocking’ drop, construction jobs regain footing

Job openings bounced back to 412,000 in the most recent report from Associated Builders and Contractors.

By Zachary Phillips • April 5, 2023

Balfour Beatty profits jump, fueled by US infrastructure wins

The London-based contractor is benefiting from the IIJA, a strong backlog and selective bidding.

By Matthew Thibault • April 5, 2023

Manufacturing remains lone bright spot for construction spending

Though the onshoring boom is strong, tightening credit conditions will likely hinder nonresidential momentum in the near term, according to one economist.

By Sebastian Obando • April 4, 2023

Tech vendor risk raises vetting stakes in wake of SVB crisis

Deposits are safe, but tech startups may no longer have access to venture debt and the lines of credit that helped fuel innovation.

By Matt Ashare • March 29, 2023

Financing issues postpone Las Vegas Dream Resort project

The pause on the $550 million casino and hotel development follows growing challenges around construction financing.

By Sebastian Obando • March 28, 2023

What The New York Times got wrong about construction

What is holding the industry back from broader tech adoption and more collaboration?

By Reid Senescu • March 22, 2023

Will banking woes drag down commercial real estate?

Given the current economic climate, the dominant outlook is that things might get worse, but there is a silver lining, writes proptech executive David Bitton.

By David Bitton • March 21, 2023

Tutor Perini ‘negatively impacted’ by legal issues, canceled work

The Los Angeles contractor also said in its earnings call that it lost billions in potential new jobs in 2022 when owners canceled projects.

By Julie Strupp • March 16, 2023

Materials prices inch up slightly

Declining energy costs are masking persistent inflation and supply chain challenges, said Anirban Basu, ABC chief economist.

By Sebastian Obando • March 15, 2023

Backlog ticks up, remains historically elevated

New work continues to surge despite a gloomy economic forecast and elevated borrowing costs, per analysis from Associated Builders and Contractors.

By Sebastian Obando • March 15, 2023

Gilbane Building Co. revenue up 8%

The Providence, Rhode Island-based contractor highlighted large projects and public-private partnerships in its recent annual report.

By Matthew Thibault • March 14, 2023

How to combat ongoing supply chain shortages in construction? Come equipped with options

Supply chain issues continue to plague the industry. Contractors must enact creative solutions to find a path forward. 

March 13, 2023

WSP revenue, backlog up but profits sag

The firm reported a strong year and plans to take on more complex infrastructure, environment and refurbishing work going forward.

By Julie Strupp • March 10, 2023

NYC office, hotel sectors show signs of life

“New York is back,” but in a way that differs from its pre-pandemic level, a presenter at this week’s New York Build conference said.

By Sebastian Obando • March 10, 2023

Biden taps Florida construction exec for trade committee

Patrick Murphy of Miami-based Coastal Construction Group has been appointed to the President’s Export Council.

By Sebastian Obando • March 8, 2023

Dodge: Construction planning bounces back

The Dodge Construction Network said its Momentum Index has rebounded, shaking off a steep plunge at the beginning of the year.

By Joe Bousquin • March 8, 2023

‘We’re not going to have one’: AGC economist dismisses a 2023 recession

A strong U.S. economy should fend off recession concerns this year, said Ken Simonson, chief economist for Associated General Contractors of America.

By Sebastian Obando • March 7, 2023

How a broker’s ‘culture of collaboration’ benefits clients

In today’s challenging market, a knowledgeable, reputable and innovative broker can serve as a valuable business partner and key strategic advisor. So, what differentiates one broker from another? Read how a ‘culture of collaboration’ provides multiple client benefits.

March 6, 2023

Amazon delays groundbreaking for HQ2’s second phase

The company said the first phase of its $2.5 billion Arlington, Virginia, headquarters project will still be complete in June.

By Matthew Thibault • March 3, 2023

Economists push back estimated recession date: NABE

Data on the housing market, employment, manufacturing and other measures of economic performance challenge predictions of imminent recession.

By Jim Tyson • March 3, 2023

Manufacturing sector props up construction spending

Nonresidential construction spending moved higher in January largely due to massive manufacturing-related projects.

By Sebastian Obando • March 2, 2023

Could tech workers find a home in multifamily?

As multifamily firms embrace automation, there may be room for professionals who were recently laid off.

By Leslie Shaver • March 1, 2023

Buy America provisions can improve construction lead times — for a price

About one-third of materials used in U.S. projects are made overseas. A make-it-here push would further raise already high costs.

By Sebastian Obando • Feb. 28, 2023

US hits Russia with 200% aluminum tariff

The Biden administration also announced $2.7 billion in new duties on other industrial goods as the war in Ukraine passes the one-year mark.

By Ben Unglesbee • Feb. 27, 2023